I cannot figure out the logic of this.

So I just found out that 10 of my warehouse workers do something very strange with their money. Every paycheck they all put $100 into a pool and 1 of them gets the $1000 every time. This repeats every pay day and they rotate so the next person gets the $1000. They are convinced that they are gaming the system by doing this.

Either they don't know what they are doing and just like the psychological feeling of getting $1,000 in hand every tenth pay period or they are performing the most complicated hedge scheme in history and will retire very shortly.... I'd put my money on the former.

You could look at it as kind of a payroll deduction plan. They'll blow that $100 weekly on insconsequential bullshite, or they can net $900 every ten weeks and have a hellacious blowout.

Also, the guy who wins the first time is always ahead. The worst he can do is break even. When he quits or the game ends, he'll be anywhere from $0 to $900 up, depending on where he is in the cycle. Everybody else is always playing catch up.

re: I cannot figure out the logic of this.(Posted by TheHiddenFlask on 10/10/12 at 5:22 pm to reb13)

quote:Maybe that's just the easiest way for them to save?

This is the only real point of that program I can see (other than the first guy who created it figuring he would get a payday on it, as previously mentioned).

If they are hispanic, it's probably so they can have one large lump sum to put into a money order and send home, or so that they can make large purchases (as the lower classs is "underbanked"). Saving money in a jar is a great way to get robbed, but this way, they get to make 1 big purchase every 2.5 months.

quote:This is the only real point of that program I can see (other than the first guy who created it figuring he would get a payday on it, as previously mentioned).

If they are hispanic, it's probably so they can have one large lump sum to put into a money order and send home, or so that they can make large purchases (as the lower classs is "underbanked"). Saving money in a jar is a great way to get robbed, but this way, they get to make 1 big purchase every 2.5 months.

Just postulating...

Yea, but it seems like a tenuous system, with a high potential for conflict.